First United Corporation, the parent company of First United Bank & Trust, announced its financial results for the second quarter of 2025. The company reported a consolidated net income of $6.0 million for the quarter, or $0.92 per diluted common share, marking an increase from $4.9 million, or $0.75 per diluted common share, in the same period of 2024. Compared to the first quarter of 2025, net income rose slightly from $5.8 million, or $0.89 per diluted common share. For the first six months of 2025, net income was $11.8 million, or $1.81 per diluted common share, compared to $8.6 million, or $1.31 per diluted common share, during the same period last year. The company's net interest margin on a non-GAAP, fully tax-equivalent basis stood at 3.65% for the quarter, benefiting from increased loan yields and stable funding costs. Significant loan production was recorded, with $65.1 million in commercial loan originations and $19.2 million in residential mortgage originations. Overall, the $1.1 million increase in net income compared to the second quarter of 2024 was driven by a $1.5 million rise in net interest income, a $0.3 million decrease in provision for credit loss, and a $0.2 million increase in non-interest income. This was partially offset by a $0.6 million increase in non-interest expenses and a $0.4 million rise in income tax expense. The company declared a cash dividend of $0.22 per common share for the second quarter.
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